New Age Alpha Advisors LLC Takes Position in Core & Main, Inc. (NYSE:CNM)

New Age Alpha Advisors LLC acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,109 shares of the company’s stock, valued at approximately $1,227,000.

A number of other hedge funds have also recently added to or reduced their stakes in CNM. Intech Investment Management LLC bought a new position in shares of Core & Main in the 3rd quarter valued at $541,000. Cerity Partners LLC increased its holdings in Core & Main by 53.9% in the 3rd quarter. Cerity Partners LLC now owns 31,728 shares of the company’s stock worth $1,409,000 after purchasing an additional 11,118 shares in the last quarter. FMR LLC raised its position in Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after purchasing an additional 1,903,280 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Core & Main by 11.0% in the 3rd quarter. MetLife Investment Management LLC now owns 105,427 shares of the company’s stock valued at $4,681,000 after buying an additional 10,413 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Core & Main by 11.6% during the third quarter. Captrust Financial Advisors now owns 29,444 shares of the company’s stock valued at $1,307,000 after acquiring an additional 3,066 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $48.46 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock’s 50 day moving average is $51.87 and its 200-day moving average is $48.95. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. Sell-side analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. The trade was a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company’s stock, valued at $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,294 shares of company stock valued at $9,383,685 in the last three months. 3.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on CNM shares. Truist Financial lifted their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Robert W. Baird decreased their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Citigroup boosted their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Finally, Barclays increased their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $57.30.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.